Usha Shriram has announced its entry into the fast-moving consumer goods sector with the launch of its premium packaged drinking water brand, Aquaero. The company aims to double its revenue to Rs 1,000 crore within two years before considering an initial public offering.
“Aquaero marks our third brand and our foray into FMCG,” said Satnam Singh Sandhu, Chief Operating Officer of Usha Shriram.
Sandhu pointed out the potential of India’s packaged water market, valued at nearly Rs 50,000 crore, where 60 to 70 percent of the market is unorganised. “This space holds immense potential and we see Aquaero playing a strong role in tapping that opportunity,” he added, noting that a reduction in GST could further boost demand.
The brand has been launched in Kolkata, with plans to expand to other eastern states. “We are confident of reaching Rs 1,000 crore in the next two years. Once we achieve that revenue threshold, we will look at an IPO,” Sandhu said.
Currently, Usha Shriram reports a revenue of Rs 480 crore. To support its FMCG push, the company has earmarked Rs 25 to 30 crore for investment over the next two years, with Rs 8 to 9 crore already spent on plant setup, branding, and product launch.
Rajarshi De, Zonal Manager for the East, confirmed that Kolkata was chosen as the launch market for Aquaero, with plans to extend availability across the region before expanding nationwide.
Beyond packaged drinking water, Usha Shriram plans to introduce staples such as atta, pulses, and other food essentials, strengthening its long-term retail presence in the FMCG sector.
Founded over four decades ago, Usha Shriram has built a diversified portfolio including lighting, solar products, wires, switches, cookware, electronics, purifiers, and furniture. With the launch of Aquaero, the company aims to build consumer recognition in FMCG by leveraging its existing brand equity.
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